Recently, the FTA Board of Directors approved 2019 financial statements and adopted number of executive decisions.
According to the FTA, all indexes reviewed by the Board revealed a noted increase in tax compliance rates, the total value of the Tax Returns submitted to the Authority grew by 21% over the 2019, compared with 2018.
The number of businesses registered for VAT purposes has also increased by 7% (320 440 registrants).
The number of registrants for Excise Tax — 1 100 by now.
The number of Tax Agents reached the number of 355.
Also, in 2019 the FTA issued 464 Tax Clarifications. For comparison, in 2018 FTA issued 129 Clarifications.
Taxpayers Assistance Centres provided assistance to 20 710 customers.
166 470 phone calls and 89 240 emails have been received by the Contact Centre and Customer Service.
Starting from the 1st June 2020 the supply, transfer, stockpiling, and possession of the Excise Goods outlined in the Decision not carrying the Digital Tax Stamp will be banned. It follows the successful implementation of phase one of the Scheme, where the sale or possession of any type of cigarette not bearing the Stamps was banned across local markets as of August 2019.
VAT Guide is happy to help you if you require any further assistance.